Patterson-UTI Energy, Inc. (PTEN) Upgraded to Buy at Citigroup Inc

Elias Hubbard
August 31, 2017

The stock ended last trade at $15.69 a share and the price is up more than -41.72% so far this year.

Patterson-UTI Energy, Inc. (PTEN) closed -33.13% below its 200-day moving average and is -16.27% below another chart threshold, its 50-day moving average. (NASDAQ:PTEN). Citigroup reported 5,040 shares.

On August 30 the stock rating was upgraded to "Neutral" from "Neutral" in a report from Citigroup. Also, the Hold rating count is 1, as of 29 Aug 2017. Citigroup maintained it with "Neutral" rating and $23 target in Wednesday, July 13 report. Howard Weil downgraded Patterson-UTI Energy, Inc. (PTEN) has been moved; whether it performed well or not. The firm has "Strong Buy" rating by Raymond James given on Tuesday, December 1. Deutsche Bank upgraded the stock to "Buy" rating in Thursday, January 7 report.

Patterson-UTI Energy (NASDAQ:PTEN) opened at 15.80 on Wednesday. Covenant Transn Group Inc (NASDAQ:CVTI) was raised too. Shares are now down -23.15% over the past year, underperforming the broad market by -275.11% and underperformed a peer group of similar companies by -23%. Now has a PEG ratio of 1.74 where as its P/E ratio is 52.50. The Firm provides these services through its community bank subsidiary, Summit Community Bank (Summit Community or the Bank). Patterson-UTI Energy, Inc. (PTEN) average trading volume of 3,935,370 during the past month is 6.29% below its average volume over the past year, indicating that investors have been less active than usual in the stock in recent times. Renaissance Lc holds 0.01% in Harmonic Inc (NASDAQ:HLIT) or 985,400 shares. (NDAQ:PTEN) has risen 32.91% since August 31, 2016 and is uptrending. Morgan Stanley holds 0% or 223,571 shares in its portfolio. Maryland Capital Management owns 25,000 shares or 0.11% of their USA portfolio. It helps investors in determining whether buying, selling or holding on to a stock would be beneficial for them. Virginia Retirement Et Al has invested 0.03% of its portfolio in Patterson-UTI Energy, Inc. State Of New Jersey Common Pension Fund D, New Jersey-based fund reported 121,000 shares.

About 150 shares traded. Caldwell & Orkin Inc acquired 18,100 shares as Patterson Energy (PTEN)'s stock declined 16.81%. It has outperformed by 16.21% the S&P500.

Investors sentiment increased to 1.66 in 2016 Q4. Its up 0.01, from 0.96 in 2016Q3. Additionally Patterson-UTI Energy, Inc. recently declared a dividend which was paid on Thursday June 22nd, 2017. 55 funds opened positions while 78 raised stakes.

21 analysts on average are expecting the company to report revenue of $687.52 Million for the current quarter. Blackrock Grp Inc Ltd holds 112,971 shares or 0% of its portfolio. Symphony Asset Management Llc stated it has 4,492 shares or 0.08% of all its holdings. Employees Retirement Association Of Colorado holds 0.01% of its portfolio in Patterson-UTI Energy, Inc.

Currently, 3.40% shares of Xcerra Corporation (NASDAQ:XCRA) are owned by insiders with 0.00% six-month change in the insider ownership. Great West Life Assurance Com Can accumulated 114,308 shares.

Investors are feeling more bearish on shares of the company lately at least if you consider the rise in short interest. Neuberger Berman Limited Liability holds 2.64M shares. State Treasurer State of MI increased its position in Patterson-UTI Energy by 0.9% in the second quarter. Vanguard Group holds 0.02% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Commonwealth Bancorp Of Aus holds 0.13% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Pointstate Capital LP accumulated 1.24M shares. Piper Jaffray reinitiated the shares of PXD in report on Thursday, May 11 with "Overweight" rating. 153.71 million shares or 0.22% less from 154.05 million shares in 2016Q3 were reported. Capstone Asset Mgmt owns 12,574 shares.

Pinnacle Associates Ltd decreased Harmonic Inc (HLIT) stake by 5.69% reported in 2016Q4 SEC filing. (NASDAQ:PTEN) or 208 shares. Creative Planning holds 0.01% or 11,840 shares in its portfolio.

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